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Barclays reactive statement on not renewing the Barclays Cycle Hire scheme

A Barclays spokesman, said: "Barclays has decided not to take up the option to renew the sponsorship of Barclays Cycle Hire and Barclays Cycle Superhighways beyond the existing contract that runs until August 2015. Several months ago we began the process of a strategic review of our sponsorship programmes and we have now made a commercial decision not to continue the sponsorship.

The sponsorship has been very successful in helping launch a new sustainable form of public transport and we are delighted to have played a part in helping launch this great scheme for London. We wish the Mayor, TfL and London every success in building on the investment we have made."